Fiscal Responsibility: Senator Dorgan's Proposals
BYRON DORGAN: A FISCAL CONSERVATIVE
One of my most important roles as a member of the U.S. Senate is to help be a good steward of taxpayer dollars. I am a strong supporter of a responsible fiscal policy, and I have worked hard to identify and eliminate wasteful spending in our federal budget.
Four years ago we had enormous budget surpluses; some experts were even predicting we would pay off our national debt! Now we face budget deficits as far as the eye can see, and a national debt that is increasing faster than anyone ever anticipated. This deteriorating budget situation is troubling. I will continue to fight to get our budget back into balance so our kids and grandkids aren't stuck with the bill.
Here are some of my goals in the area of fiscal responsibility:
We need honest budgets that don't hide the consequences of our fiscal policies. I'll support a budget process that tells it like it is, rather than relying on gimmicks and sleight of hand.
The record budget deficits rung up over the past four years must stop. America must reduce the deficit and work our way back to budgets that are balanced. I'll support budget choices that take us in that direction.
I will work for tax cuts for individuals and businesses that are fair, and targeted to working families and small businesses where they are most likely to stimulate the economy in a fiscally responsible way. But I will not support tax cuts that add to our budget deficit or that misuse the Social Security trust funds.
I will insist that all Americans-not just working families-pay their fair share of taxes. I will oppose tax breaks for big corporations that move jobs overseas. And I will work to close tax loopholes that allow hundreds of America's biggest and most profitable corporations to avoid paying any federal income tax at all.
Over the past several years, Senator Wyden (D-OR) and I have set up a process to root out wasteful projects from the federal budget. So far, we have been successful in eliminating nearly $2 billion in unjustified spending: We ended dancing lessons in federal prisons; we blocked plans for an online site to allow gambling on potential future terrorist acts; and we helped to terminate an employee education program that included building gingerbread houses and dressing up like cats. But of course, there is more to do. I will continue to work to scrub our budget and hold government agencies accountable.
I will fight to preserve and protect the Social Security trust fund-to keep it beyond the reach of those who would raid its funds to finance other government activities. Toward this end, I will insist on realistic budget accounting that does not use Social Security trust funds to hide the real size of the federal budget deficit.
When businesses face tough times, one of the first items they cut is overhead expenses. The government should do the same. I have argued that our federal agencies should reduce their overhead expenses-especially at a time of record budget deficits. I have proposed a 5 percent cut in overhead expenses until our deficit is reduced. I will continue to fight for these reductions because I believe that is a reasonable way to get real savings without cutting into programs.
I will work to ensure that taxpayer dollars are spent wisely in the war on terrorism. A worthy cause is no excuse for wasteful spending. I will continue to insist on strict oversight of contracts awarded in Iraq for reconstruction and for military supplies. I also will work to see that Iraq's own oil revenues-rather than U.S. taxpayer dollars-are used to fund Iraq's reconstruction. I offered an amendment to cut $18 billion that was slated to go for Iraq reconstruction. That amendment failed, but I was able to pass a smaller amendment that reduced some of these funds. Iraq sits on some of the largest oil reserves in the world. Iraq should use those revenues, not money from U.S. taxpayers, to rebuild their country.
A recent study I requested from the Government Accountability Office (GAO) reported that $25 billion in criminal fines and restitution ordered by the courts have gone uncollected by the Justice Department and other federal agencies involved in criminal debt collection. This is outrageous! I have called on the Justice Department to do a better job in following through on collecting these outstanding judgments, and I will continue to insist that the guilty pay what they owe.
For years, I have fought to have the Federal Reserve return its "surplus" fund, which now totals over $8 billion, to the American taxpayers. Given our unmet needs and the growing deficit, these dollars cannot be allowed to just lay idle at the Fed.
I strongly believe the federal government has a responsibility to create a sound fiscal policy. We should not ask future generations to shoulder the burden of an exploding national debt. I have been a leader in responsible tax policy and honest budgeting, and I have fought to eliminate wasteful federal spending. I will continue these efforts.